By Marisa Wong
Madison, Wis., Aug. 21 - Barclays Bank plc priced $605,000 of callable CMS spread range accrual notes due Aug. 22, 2028 linked to the 30-year Constant Maturity Swap rate and the two-year CMS rate, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be 6% per year multiplied by the proportion of days on which the 30-year CMS rate exceeds the two-year CMS rate by 25 basis points or more. Interest will be payable quarterly.
The payout at maturity will be par.
The notes will be callable at par on any interest payment date.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Callable CMS spread range accrual notes
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Amount: | $605,000
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Maturity: | Aug. 22, 2028
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Coupon: | 6% per year times proportion of days on which | 30-year CMS rate exceeds two-year CMS rate by 25 bps or more; payable quarterly
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Price: | Par
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Payout at maturity: | Par
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Call option: | At par on any interest payment date
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Pricing date: | Aug. 20
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Settlement date: | Aug. 22
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Underwriter: | Barclays
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Fees: | 2%
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Cusip: | 06741TC70
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